Institutions have subscribed for 5.9 billion shares of Aramco IPO - lead bankers
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Riyadh (Reuters) - Saudi Aramco has received orders worth 189.04 billion riyals (39.3 billion pounds) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Tuesday.The institutional bookbuilding began on Nov. 17 and investors have until Dec. 4 to place orders. Aramco plans to sell 1.5% of its shares, in a deal which could raise up to $25.6 billion.The Saudi oil giant has received subscription orders from institutional..